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Active

Triplex

637 N Raymond Avenue

$1,799,999

Offered at

Pasadena, CA 91103

Los Angeles County

Beds

Baths

3,418

Sq Ft

6,586

Lot Sq Ft

1930

Year Built

In a market where yield matters, 637 N Raymond Ave delivers a clean, well-positioned triplex with strong in-place income and a cap rate projected above 4%. This corner-unit property is thoughtfully configured so each residence lives more like a standalone home than a multifamily unit.Distinct architectural identities… In a market where yield matters, 637 N Raymond Ave delivers a clean, well-positioned triplex with strong in-place income and a cap rate projected above 4%. This corner-unit property is thoughtfully configured so each residence lives more like a standalone home than a multifamily unit.Distinct architectural identities create natural appeal and long-term retention:637 N Raymond Ave (3BR/2BA) - Currently leased at $3,450/month. A classic Arts & Crafts residence with updated kitchen finishes, recessed lighting, and basement storage. Direct access to the shared courtyard enhances livability.635 N Raymond Ave (2BR/1BA) - Currently leased at $2,600/month. Recently refreshed with a bright, open layout, galley kitchen, and subtle Santa Barbara influences--arched details and light, airy interiors.639 N Raymond Ave (3BR/2BA) - Currently leased at $3,600/month. An upper-level unit with a private balcony, wrought-iron stair details, and elevated neighborhood views. Thoughtfully updated and highly rentable in its current condition, with beautifully refinished hardwood flooring that enhances its charm and appeal.Shared Features: Tenants enjoy a central courtyard designed for everyday use, a detached laundry structure equipped with newer washers and dryers, and ample on-site parking via dual driveways--an increasingly valuable amenity in this part of the city. Separate gas and electrical meters also help streamline operations.Beyond its strong income profile, the property has benefited from substantial capital improvements over the past eight years. Ownership has invested heavily in the long-term condition and desirability of the asset, including the installation of central air conditioning in all three units, comprehensive kitchen and bathroom renovations throughout, interior and exterior repainting, upgraded recessed lighting, driveway improvements, roof flashing updates, and extensive landscaping enhancements. Recent exterior upgrades include a mature privet hedge along the Peoria frontage and an attractive planter feature at the Raymond Avenue corner, creating strong curb appeal from multiple vantage points. In 2026, the property's ductwork was professionally cleaned throughout, further supporting tenant comfort and system efficiency.This is a low-friction asset: stable tenants, desirable unit layouts, and a presentation that consistently attracts quality renters. The 'feels like a single home' layout across all three units reduces turnover risk and supports premium rents over time. With Pasadena's steady rental demand and limited multifamily inventory, this property sits in a strong position for both immediate returns and long-term hold strategy.Opportunities like this don't circulate often--especially with this level of character, configuration, recent investment, and income already in place. Don't miss your chance.

Facts & Features

Interior

Bedrooms & bathrooms

Bedrooms: 8
Bathrooms: 5
Full bathrooms: 5
1/2 bathrooms: 0

Cooling

Cooling: Central Air

Appliances

Included: Refrigerator
Laundry: Common Area, Outside

Features

Flooring: Wood
Has fireplace: No

Interior area

Total interior livable area: 3,418 sqft

Property

Parking

Total spaces: 8
Parking features: Driveway, Garage, Shared Driveway, Side By Side, Tandem, Uncovered
Garage spaces: 0

Features

Stories: 2
Has private pool: No
Has view: Yes

Lot

Size: 0.15 Acres
Features: Back Yard, Corner Lot, Corners Marked, Lawn, Landscaped, Paved, Walkstreet, Yard

Details

Parcel number: 5725004008
Zoning: PSR1

Construction

Type & style

Home type: Residential
Architectural style: Craftsman
Property subtype: Triplex

Condition

Year built: 1930

Location

Mike Zwarg

Broker / Owner

951-528-0626
mike@mzhomes.us

Listing Office: Keller Williams Westlake Village · Listing Agent: David Samuels · CRMLS

The property listing information on this website comes in part from the California Regional Multiple Listing Service (CRMLS) via Internet Data Exchange (IDX). Information is deemed reliable but is not guaranteed accurate by the MLS, and all properties are subject to prior sale, change, or withdrawal. This data is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than identifying properties consumers may be interested in purchasing. Buyers should independently verify all information, including square footage, lot size, schools, and property condition.

637 N Raymond Avenue

Facts & Features

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